OakNorth extends £16m loan to Inuvi Medical Services

GlobalData

Wed, Apr 9, 2025, 8:02 AM 2 min read

UK-based integer slope OakNorth has extended a £16m ($20.4m) financing installation to Inuvi Medical Services (Inuvi).

The superior volition beryllium utilized by the diagnostic services supplier to refinance existing slope indebtedness and enactment aboriginal acquisitions, including that of Physiological Measurements, known for its assemblage non-invasive diagnostic services successful concern with the NHS.

Set up successful 2015, Inuvi has evolved into a diversified wellness services company. It offers a wide scope of services, including wellness assessments, phlebotomy, laboratory testing, and assemblage diagnostic services.

Inuvi caters to assorted sectors, including NHS, nonrecreational sports, user health, and security markets.

OakNorth said Inuvi operates 1 of the UK's largest autarkic pathology laboratories successful Gloucester, supported by a nationalist web of much than 750 healthcare professionals.

The institution provides mobile and clinic-based diagnostic services from 5 locations: Wokingham, Gloucester, Plymouth, Oswestry, and London.

OakNorth Bank's manager of indebtedness concern Stewart Haworth said: “Inuvi is simply a fantastic illustration of a fast-growing, innovative concern delivering captious healthcare services. Driven by enlargement successful laboratory investigating capableness and strategical acquisitions, it’s had 9 years of uninterrupted gross and nett growth, enabling it to unafraid the backing of an fantabulous sponsor, Longacre, successful 2019.

“With an experienced absorption team, beardown fiscal performance, and a scalable concern model, Inuvi is well-positioned for semipermanent success. We are delighted to enactment their enlargement and look guardant to seeing their continued interaction successful the healthcare sector.”

Inuvi Medical Services CEO Jonathan Benton said: “OakNorth’s heavy knowing of our assemblage and flexible financing attack marque them an perfect spouse for us. This backing allows Inuvi to accelerate our maturation strategy, grow our diagnostics capabilities, and amended service our NHS and firm clients done the acquisition of Physiological Measurements.”

Inuvi has made respective acquisitions successful caller years, including Express Diagnostics and Medicals Direct successful 2023.

This £16m woody is OakNorth's 2nd transaction with Inuvi's backstage equity sponsor, Longacre Group, pursuing the financing of Veracity UK successful December 2024.

OakNorth is besides a portion of the SME Finance Taskforce, which includes starring banks, alternate lenders, and fintechs.

In August 2024, the conjugation released an enactment program to revitalise the UK economy, aiming to expedite lending for the country's 5.5 cardinal SMEs, important to the system by employing 60% of the private-sector workforce and generating implicit 50% of economical turnover.